Long
Bitcoin correction is over
Waiting for break out, first target ~ 645 $
Note
Title might be a bit confusing.I believe the correction will be over with the break out. And I am confident that btc will go up for the following reasons:
- Hashrate is slowly going up again after halving.
- Income of miners is the same like in oct 15. Means price and production cost is very close.
- Less selling pressure because of halved block reward.
- The second price drop was caused by the finex hack, dust has settled, volume has moved to btc-e and Bitcoin is still Bitcoin.
- A lot of money is on sidelines
- Bitcoin is needed to join the booming alt market
I think another major drop would require a new bearish event, otherwise we will leave the structure and sideline money will buy in again.
Note
my guess for next days Note
nice <3
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.